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Golden Agriculture, Sabana REIT and AIMS AMP Capital Industrial REIT.

Wednesday, May 18, 2011

This is going to be a very quick post. Well, I hope it would be anyway as I am really tired today from work, mostly housework. All the housewives and maids have my deepest respect.

Golden Agriculture

Golden Agriculture provided some excitement today as patience finally paid off. A wickless white candle was formed on the back of much increased volume, breaking resistance provided by the 20d, 50d and 200d MAs in the process.

Immediate resistance is found at 70.5c as provided by the declining 100dMA. The strong buy up momentum today could probably spill over to the next session. We could see 70.5c tested and even broken. If it were to break, we could see the next resistance at 72c tested.

72c was a resistance level tested many times in the first half of April last month and it even broke briefly. Could we see price forming a higher high this time? Well, the upward trending channel suggests that this is a possibility but taking some profit at resistance can't be wrong either.

Sabana REIT

My thesis that Sabana REIT is going through a basing process could be right after all. The Stochastics is turning up from oversold territory while the MACD has turned up to close the distance with the signal line in negative territory.

So, no matter whether we believe Sabana REIT's unit price is range bound or trending down, support is obvious and downside is pretty limited for now.

90c remains the support to watch while continuing upward movement in price could see gap closed at 93c  and that would be the resistance to watch.

AIMS AMP Capital Industrial REIT

High volume white candle day. If we believe that price action saw the formation of a reverse head and shoulders pattern earlier in the year from February to April, we could see price going higher as the neckline at 21c has, once again, been overcome.

Could we see price breaking out of the downtrend this time round? Resistance at 21.5c remains rather formidable as it is provided by the 200dEMA and this was what prevented the unit price from moving higher in the second half of April last month. We shall have to wait and see. Good luck to fellow unitholders.

Well, this effort at a quick post took me almost an hour. I failed in my attempt. ;)

Related posts:
Golden Agriculture: Eyeing 96c per share.
Sabana REIT: Still waiting for a 10% yield?
AIMS AMP Capital Industrial REIT: 4Q FY2011.


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